New Tenaga chief to be known today

The new chief of Tenaga Nasional Bhd (TNB) will be announced today, to replace its current president and chief executive officer (CEO) Datuk Seri Che Khalib Mohamad Noh.


The new CEO will be an internal candidate, a source told Business Times.
TNB has previous history of promoting from internal management, such as the late Datuk Pian Sukro.

In a Business Times article in February, four TNB key officials were named as potential candidates to take up the post of CEO.

They are its current chief operating officer (COO) Datuk Azman Mohd, vice-president of generation Datuk Mohd Nazri Shahruddin,
vice-president of transmission Datuk Rozimi Remeli, and chief financial officer Mohd Rafique Merican Mohd Wahiduddin.

Mohd Rafique, however, is leaving TNB in June. Che Khalib, whose contract with TNB expires on June 30, told reporters in February
that the priority would be given to internal candidates.

“Naturally, the most suitable person would be an internal candidate. But ultimately, it is up to the board whether it is
an internal or external candidate,” he had said.

Whoever is appointed as new CEO of TNB will continue to represent major shareholder Khazanah Nasional Bhd and the
government’s interests in the utility firm.

TNB posted a net profit of RM2.81 billion for its second quarter ended February 29 2012 after recording losses for the three
previous consecutive quarters.

Analysts had said that its previous subpar performance was mainly because of shortage of gas supply, high cost of fuel and
coal, as well as the legacy lopsided power purchase agreements with independent power producers.

TNB shares closed two sen higher yesterday at RM6.45.